FATCA is nothing more and nothing less than an attempt by the U.S. (with collaboration from the Harper Government) to forcibly impose a U.S. law on Canada. The article fails to point out the long run costs of compliance with U.S. law will far exceed the costs of non- compliance. Well, assuming that you want Canada to continue as a free and sovereign nation.
Roy Berg continually says:
The is U.S. law and therefore we must comply.
Two women have challenged the constitutionality of a Canada-U.S. agreement to share the tax information of U.S. citizens resident in Canada, with the IRS.
[np_storybar title=”Ottawa is violating Canadians’ constitutional rights to help the U.S. collect taxes” link=”http://fullcomment.nationalpost.com/2014/08/14/marni-soupcoff-ottawa-is-violating-canadians-constitutional-rights-to-help-the-u-s-collect-taxes/”]Marni Soupcoff: At the Americans’ behest, Canada will now be sharing tax information even about Canadians who have never lived a day of their lives in the United States, never worked in the United States, and never owed the IRS a single penny. Merely having dual U.S. citizenship — for example because one’s parents were Americans or one was born on U.S. soil to Canadian parents — is enough to trigger the mandatory sharing of private financial details. While one can understand Washington’s desire to crack down on tax cheats, FATCA goes too far, and it’s distressing that the Canadian government has so willingly stepped up to help. Keep reading.
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